• Analysis and Studies
• Czechia: a look at the market

The Czech Republic, also known as Czechia, is a landlocked country situated in Central Europe. It has a developed, high-income export-oriented social market economy based in services, manufacturing and innovation, that maintains a welfare state and the European Single Market (it is the single market comprising mainly the 27 member states of the EU; it seeks to guarantee the free movement of goods, capital, services and people, known as the “four freedoms”) as a member of the European Union and is therefore a part of the economy of the European Union, but uses its own currency, the Czech koruna, instead of the euro.

In 2021, Czechia was the number 47 economy in the world in terms of GDP (current US$), the number 29 in total exports, the number 29 in total imports, the number 51 economy in terms of GDP per capita (current US$) and the number 7 most complex economy according to the Economic Complexity Index (ECI).

As of 2023, the country’s GDP per capita at purchasing power parity is $51,329 and $29,856 at nominal value. The country has been a member of the Schengen Area since 1 May 2004, having abolished border controls, completely opening its borders with all of its neighbors on 21 December 2007.

EXPORTS

The top exports of Czechia are Cars ($23.6B), Motor vehicles; parts and accessories (8701 to 8705) ($14.1B), Computers ($11.6B), Broadcasting Equipment ($9.94B), and Office Machine Parts ($5.15B), exporting mostly to Germany ($70.5B), Slovakia ($17.8B), Poland ($14.7B), France ($10.4B), and Austria ($10.2B).

In 2021, Czechia was the world's biggest exporter of Non-optical Microscopes ($698M) and Spring, Air, and Gas Guns ($276M)

IMPORTS

The top imports of Czechia are Motor vehicles; parts and accessories (8701 to 8705) ($9.56B), Office Machine Parts ($7.05B), Broadcasting Equipment ($7.05B), Cars ($4.93B), and Computers ($4.54B), importing mostly from Germany ($51.5B), China ($20.9B), Poland ($19B), Slovakia ($11.6B), and Netherlands ($8.55B).

Czechia at a glance

Top Export (2021)       Cars$23.6B

Top Destination (2021)   Germany$70.5B

MARKET GROWTH

FASTEST GROWING EXPORT MARKETS (2020 - 2021)

Germany      $9.87B (+ 16.3%)

Slovakia        $3.56B (+ 25%)

Poland          $3.06B (+ 26.2%)

FASTEST GROWING IMPORT MARKETS (2020 - 2021)

Germany   $9.22B (+ 21.8%)

Poland       $4.02B (+ 26.7%)

Russia        $3.51B (+ 133%)

Fonti: 

 https://oec.world/en 

https://data.worldbank.org/

https://www.trademap.org/